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Should You Get Rid of Ascena Retail Group, Inc. (ASNA) Now?
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Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Ascena Retail Group, Inc. , which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in ASNA.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen three estimates moving down in the past 30 days, compared with just no upward revisions. This trend has caused the consensus estimate to trend lower, going from 44 cents a share a month ago to its current level of 13 cents.
Also, for the current quarter, Ascena Retail Group has seen three downward estimate revisions versus one revisions in the opposite direction, dragging the consensus estimate down to a loss of 3 cents a share from earnings of 16 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 19% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Retail - Apparel and Shoesindustry, you may instead consider a better-ranked stock – The Children's Place, Inc. (PLCE - Free Report) . The stock currently holds a Zacks Rank #1 (Strong Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>
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Should You Get Rid of Ascena Retail Group, Inc. (ASNA) Now?
Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Ascena Retail Group, Inc. , which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in ASNA.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen three estimates moving down in the past 30 days, compared with just no upward revisions. This trend has caused the consensus estimate to trend lower, going from 44 cents a share a month ago to its current level of 13 cents.
Also, for the current quarter, Ascena Retail Group has seen three downward estimate revisions versus one revisions in the opposite direction, dragging the consensus estimate down to a loss of 3 cents a share from earnings of 16 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 19% in the past month.
Ascena Retail Group, Inc. Price and Consensus
Ascena Retail Group, Inc. Price and Consensus | Ascena Retail Group, Inc. Quote
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Retail - Apparel and Shoesindustry, you may instead consider a better-ranked stock – The Children's Place, Inc. (PLCE - Free Report) . The stock currently holds a Zacks Rank #1 (Strong Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank stocks here.
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>